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Web3 are browser-based wallets (or mobile based) that can authorize transactions in a blockchain securely because it's separate from the web page itself. When I

Web3 are browser-based wallets (or mobile based) that can authorize transactions in a blockchain securely because it's separate from the web page itself. When I use metamask to buy something on the chain, it'll ask me to confirm if that's ok or not. That's all that the developer of the page can do, they can ask metamask to confirm the transaction is safe. Once it's confirmed, a one-time unique token for the transaction is created, and used to execute the transaction. This can work because the browser provides the secure separation between app and wallet. Otherwise, no one would trust a 3rd party to run transactions for them on the blockchain.

dwaite 4y ago
Is Apple Pay considered Web3?
SkyMarshal 4y ago
> This can work because the browser provides the secure separation between app and wallet. I thought the app and wallet were the same thing. What's the difference here?
- derefr 4y ago
  The "app" (Distributed App / DApp) is some arbitrary thing written by a developer, running in a sandbox in a tab in your browser. The "wallet" (Metamask) is a browser extension containing a set of pairs of (RPC gateway URI for a given blockchain, cryptographic private key for an account on said blockchain.) It can also proxy through to other such "wallets", e.g. "hardware wallets" (smart cards.) "web3" is an API (like any DOM API) that the browser extension exposes to app, allowing the app to ask the wallet to do things (where the wallet then asks the user to confirm that they want to do those things); and, through the wallet's connection to blockchains, to watch for things to happen on a blockchain. Together, these additional APIs allow web3 "DApps" to transact on blockchains, and to observe what happens in response to their transactions. Example DApps: - Gnosis Safe (https://gnosis-safe.io/ https://gnosis-safe.io/) — an interface for deploying and managing multi-signature smart contracts (i.e. trusts whose assets are controlled by M-of-N voting) - Sushiswap (https://www.sushi.com/swap https://www.sushi.com/swap) — an interface for creating and managing Automated Market Maker liquidity pools - OpenSea (https://opensea.io/ https://opensea.io/) — a marketplace for buying and selling NFTs On all of these websites, you'll notice that instead of registering an account, there is a button that CTAs you to "Connect a Wallet." This is requesting permission to communicate with the web3 agent installed as an extension in your browser.
Mordisquitos 4y ago
To me that sounds like reinventing the wheel, as it's basically the same process by which online shopping services have integrated for years with payment service providers (PSPs), which contact customers' banks to do strong customer authentication (SCA), such as 3-D Secure v2, without the need for a blockchain. In fact, I can minimally edit your description to make it an accurate description of checking out using Braintree, for example. «The drop-in UIs is an external wallet that can authorize card transactions securely because it is separate from the merchant's web page itself. When I use my credit card to buy something from a retailer, the PSP will ask my bank to do a SCA to confirm that it is me doing it. That's all that the merchant can do, they can ask the PSP to confirm the transaction is authenticated. Once it's confirmed, a one-time unique token for the transaction is created, and used to execute the transaction. This can work because the browser provides the secure separation between website and wallet. Otherwise, no one would trust an online shop with their credit card details to run transactions.»

dwaite 4y ago

Is Apple Pay considered Web3?

SkyMarshal 4y ago

> This can work because the browser provides the secure separation between app and wallet. I thought the app and wallet were the same thing. What's the difference here?

derefr 4y ago
The "app" (Distributed App / DApp) is some arbitrary thing written by a developer, running in a sandbox in a tab in your browser. The "wallet" (Metamask) is a browser extension containing a set of pairs of (RPC gateway URI for a given blockchain, cryptographic private key for an account on said blockchain.) It can also proxy through to other such "wallets", e.g. "hardware wallets" (smart cards.) "web3" is an API (like any DOM API) that the browser extension exposes to app, allowing the app to ask the wallet to do things (where the wallet then asks the user to confirm that they want to do those things); and, through the wallet's connection to blockchains, to watch for things to happen on a blockchain. Together, these additional APIs allow web3 "DApps" to transact on blockchains, and to observe what happens in response to their transactions. Example DApps: - Gnosis Safe (https://gnosis-safe.io/ https://gnosis-safe.io/) — an interface for deploying and managing multi-signature smart contracts (i.e. trusts whose assets are controlled by M-of-N voting) - Sushiswap (https://www.sushi.com/swap https://www.sushi.com/swap) — an interface for creating and managing Automated Market Maker liquidity pools - OpenSea (https://opensea.io/ https://opensea.io/) — a marketplace for buying and selling NFTs On all of these websites, you'll notice that instead of registering an account, there is a button that CTAs you to "Connect a Wallet." This is requesting permission to communicate with the web3 agent installed as an extension in your browser.

Mordisquitos 4y ago

To me that sounds like reinventing the wheel, as it's basically the same process by which online shopping services have integrated for years with payment service providers (PSPs), which contact customers' banks to do strong customer authentication (SCA), such as 3-D Secure v2, without the need for a blockchain. In fact, I can minimally edit your description to make it an accurate description of checking out using Braintree, for example. «The drop-in UIs is an external wallet that can authorize card transactions securely because it is separate from the merchant's web page itself. When I use my credit card to buy something from a retailer, the PSP will ask my bank to do a SCA to confirm that it is me doing it. That's all that the merchant can do, they can ask the PSP to confirm the transaction is authenticated. Once it's confirmed, a one-time unique token for the transaction is created, and used to execute the transaction. This can work because the browser provides the secure separation between website and wallet. Otherwise, no one would trust an online shop with their credit card details to run transactions.»